Ditch Help-to-Buy - Invest in public housing instead!

After extensive lobbying by the Construction Industry Federation (CIF), it seems that the ‘Help to Buy’ scheme will be extended. Although a reduction in the price cap may mitigate some of the most blatantly unjust aspects of Help-to-Buy, it remains a scheme premised on incentivising developers to build by artificially propping up property prices.

A consequence is that while helping developers to profit, it makes it harder for those who don't qualify for the scheme to buy a home.

One cause of the deep and continuing housing crisis is because the government is allowing the developers to effectively write their housing policy. This was demonstrated clearly last week when it emerged that according to the industry, the Minister for Housing "took [our recommendations on Strategic Housing Developments] lock, stock and barrel and stuck it into the new housing bill." Extensive lobbying by the CIF for the extension of the help to buy scheme is on the public record. The scheme was originally introduced at their suggestion. They are not lobbying for the interests of first time buyers, but for the interests of private developers!

It is a very clear expression of the neo-liberal character of this government when their answer to the housing crisis is to seek to incentivise private developers to build. This is €100 million a year transferred from the public purse through first time buyers and into the hands of private developers. If the government's aim was really to resolve the housing crisis instead of lining the pockets of developers, it would be using that money to build 500 public homes instead, as part of an extensive public housing programme to resolve the crisis.